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Jun 16, 2013
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this is not a -- it's a 2% economy, and not going to create enough jobs with this level of economy to get out of the sevens. >> so, 2% economy. do you think the market is ahead of itself, knowing that we're in a 2% growth? >> i don't think so. the phrase we've been using is tina. there is no alternative. i also agree with rebecca you're not in a situation where you're going to be getting very high yield rate from bonds. the backup is a good reminder you can lose money, particularly in bond funds. so, it's a very strong environment, i think, very strong reminder that equities are very important part of the total return that investors are seeking. >> one of the good things he ó it not coming down quickeñ consumers doing well, businesses cautious, and we're in a global economy and a lot of u.s. companies today depend on sales joest assess. the u.s. is doing better but overseas, europe is still struggling with the recession, china's economy is growing, markets are face something pains right now, and even if the consumer is doing better, overseas still a little bit tricky, and that affe
this is not a -- it's a 2% economy, and not going to create enough jobs with this level of economy to get out of the sevens. >> so, 2% economy. do you think the market is ahead of itself, knowing that we're in a 2% growth? >> i don't think so. the phrase we've been using is tina. there is no alternative. i also agree with rebecca you're not in a situation where you're going to be getting very high yield rate from bonds. the backup is a good reminder you can lose money, particularly...
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Jun 17, 2013
06/13
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the economy. not market, but overall economy. why do you think they need to stay around for so long? >> well, i don't think they do. i just think they will. i think if you look at how they've been talking lately and how they've changed their tone, they're talking a little more about i inflation, another reason to keep providing stimulus. i don't think that's by accident. i'd also say that i think a lot of what you're hearing out of the fed is really just designed to increase uncertainty in the near term because what they don't really -- what they can't let happen is for the markets to price in the end game. they can't let the market price in when tapering ends. they don't care if people know when it begins. if people know when tapering ends, they can figure out the pathway and all the smart people i work with can price that the second after it happens. it will be too disruptive. >> that's why the market is even reacting to the idea that tapering is going to come at some point. it used to be that you'd react to the change in inter
the economy. not market, but overall economy. why do you think they need to stay around for so long? >> well, i don't think they do. i just think they will. i think if you look at how they've been talking lately and how they've changed their tone, they're talking a little more about i inflation, another reason to keep providing stimulus. i don't think that's by accident. i'd also say that i think a lot of what you're hearing out of the fed is really just designed to increase uncertainty...
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Jun 21, 2013
06/13
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the businesses that do better when the economy is getting better. which is after all the cause why bernanke is reigning in the magic carpet ride. i always like to take my cue from the market. always, meaning on a bad day, i ask myself, what group acted best? what is tipping its hand so when the futures selling lets up, it can roar. sometimes the action underneath the market isn't as dumb as it often looks. what do i come up with? how about the regional banks? despite the horrible action in the averages today, we witnessed this group of stocks performed better than they have, relative to the market. it's absolute if they went up. relative to market better than any time i have seen in the last six years. huntington bank shares, people's united connecticut. these were up a lot when the market was still okay. it was only down 250 points. i'm talking about bedrock local banks, the ones that have been a huge drain on the market. ones riddling people's portfolio from losses from the old days. we have one all the time. right? six years ago the stock was at
the businesses that do better when the economy is getting better. which is after all the cause why bernanke is reigning in the magic carpet ride. i always like to take my cue from the market. always, meaning on a bad day, i ask myself, what group acted best? what is tipping its hand so when the futures selling lets up, it can roar. sometimes the action underneath the market isn't as dumb as it often looks. what do i come up with? how about the regional banks? despite the horrible action in the...
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Jun 20, 2013
06/13
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zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some positive feeling before you hit withdrawals? >> it's not only that. it's the policy itself that i'm objecting to. >> katie, welcome to the show. you've got to jump in. this is a rough crowd. you've got to jump in. i'd like it hear your take on today's market on the inerds of this market including gold which got slaughtered today and only the dollar held up nicely. what did you learn from looking inside the market whether it's trading volume or sectors in the s&p. what did you learn? >> a lot of things from today, in fact. it was a very important day in a lot of levels and volume was one thing that bears p
zee an economy going through withdrawal and some of the economy and it's not a lot of it was addicted to this cheap money. the reality is i like what the fed chairman did. he came out with this when the market was near its top. had he done that when the market was down 200 s&p point from here it might be a different story, but i like the fact that he's let a little of this fluff come off, and i'm a buyer of this break and with the withdrawal comes and aren't you supposed to have some...
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Jun 20, 2013
06/13
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economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying opportunity. >> hold on one second, simon. jeff gundlach was on our show yesterday who said treasuries were set to rally fairly quickly, that you're sort of in this scenario of really nowhere to make any money these days just given what's happening. >> yeah. if you look at our investment grade high quality corporate bond portfolios today as of this morning, they're yielding 4.25% to 6% for long maturity high quality corporate bonds. that's going to attract from our clients globally. you will see buyers gradually step in and obviously bernanke and what the fed's predicament is in has created a lot of volati
economy, housing around energy, but overall the economy is very unlikely to grow at 5% or 5.5% knowledge nal which is what the fed is forecasting and, therefore, the degree to which the market is pricing in tapering is unlikely to materialize. these rates actually will probably stabilize and head lower towards the end of the year. granted, we're seeing a lot of unwinding and a lot of volatility, but these markets should stabilize over time and this will prove to be an attractive buying...
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Jun 17, 2013
06/13
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if they are looking through rose-colored glasses and thinking that the economy is in fact better off than it actually is and they make a policy decision as a result of the shaded view of what the real picture is, that's a problem. that's why i asked the question, that's all. >> i think the fed is in or around the market for the second half of the year. there's expected to be an acceleration. another thing we didn't talk about is the market's view and the fed's view about the impact of sequester. think so far the market has been re-evaluating that and expecting a little bit more growth and i think it's right to think that fed policy was oriented somewhat towards offsetting the sequester effects and to the extent that that's less it would make an argument for less qe in the months eye head when that becomes clear. >> good stuff as always, good to talk to you. >> steve liesman back at headquarters. >>> volatility has ruled the day lately. if our next guest is right, better get used to it. steven whiting is chief investment strategist for city wide bank. where do you weigh in on what hap
if they are looking through rose-colored glasses and thinking that the economy is in fact better off than it actually is and they make a policy decision as a result of the shaded view of what the real picture is, that's a problem. that's why i asked the question, that's all. >> i think the fed is in or around the market for the second half of the year. there's expected to be an acceleration. another thing we didn't talk about is the market's view and the fed's view about the impact of...
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Jun 20, 2013
06/13
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in fact, i think the economy -- the real economy where we spend our time is actually many a little stronger than the numbers show and, again, we talk about a few minutes ago housing is really important. housing has led every recovery to participate in a big way. even bigger than the numbers. housing punches its way because it affects people's attitude. also, ag is doing relatively well. energy. who would have guessed that we would be potentially -- >> peak oil, the whole notion of it, the notion of peak oil, you have 1,000 year's worth now if you take china's reserve and everyone's reserve. >> we have not hit peak hydrocarbon. >> what we know today, we think we have 100 years or so in the u.s. what we might know 20 years from now could be 500. >> the way the information is going, i'm looking at all of this. when computers start designing themselves and everything else, we're going to move on to something else. you didn't run out of stones. >> the key is, we have now figured how to extract it from different types of things. >> right. >> we know there's more energy in the things we can't get
in fact, i think the economy -- the real economy where we spend our time is actually many a little stronger than the numbers show and, again, we talk about a few minutes ago housing is really important. housing has led every recovery to participate in a big way. even bigger than the numbers. housing punches its way because it affects people's attitude. also, ag is doing relatively well. energy. who would have guessed that we would be potentially -- >> peak oil, the whole notion of it, the...
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Jun 21, 2013
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the economy is getting better. but i think you have to slowly put your money that you have on the sidelines into cash. yesterday money only went to cash. you know, the commodity complex sold off. the bonds sold off. equities sold off. emerging markets got hammered. i think there's more dry powder on the sidelines. i think we just have to see if certain levels hold. but we're still very constructive going forward with a 1650 to 1700 s&p target. the problem is this. when volatility increases, anxiety increases. and investors seek certitude. the fed did not give us full certitude because they were talking one thing while the market was bringing rates up ahead of them. i think it's something we have to watch and just be flexible right now. >> you bring up an interesting point. the algorithms and the computerized trading. we've talked, you know, we were yus talking about someone else who was mentioned in morning money. i know that's something ron baron mentioned. doug cass was just talking about that. how big of a probl
the economy is getting better. but i think you have to slowly put your money that you have on the sidelines into cash. yesterday money only went to cash. you know, the commodity complex sold off. the bonds sold off. equities sold off. emerging markets got hammered. i think there's more dry powder on the sidelines. i think we just have to see if certain levels hold. but we're still very constructive going forward with a 1650 to 1700 s&p target. the problem is this. when volatility increases,...
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Jun 21, 2013
06/13
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they are more credit sensitive, and steve just mentioned, hey, we think that the economy is going to continue to go along quite well. you're not going to have bankruptcies in high yield and even slow growth will alol two companies to continue to chug along pay a much higher interest rate now than what they were a couple of weeks ago, and it really represents, we think, probably the best value out there in fixed income. >> we're making this a very actionable friday, okay, so our viewers, maybe they believe, what do i do? i can't go out and buy a double p-minus corporate credit? what's the easiest way for the audience to play what you're saying? >> certainly can you go to a managed high-yield fund and go to an etf and our concerns with an etf, being an adviser and manager, is you can't really distinguish good bonds from bad bonds and there are good bonds out there in junk land so find an adviser you can trust who has a fund that's well diversified in high yield. play there. >> meantime, steve, you've been telling everybody out there to sell every single bond they have. >> right. i mean
they are more credit sensitive, and steve just mentioned, hey, we think that the economy is going to continue to go along quite well. you're not going to have bankruptcies in high yield and even slow growth will alol two companies to continue to chug along pay a much higher interest rate now than what they were a couple of weeks ago, and it really represents, we think, probably the best value out there in fixed income. >> we're making this a very actionable friday, okay, so our viewers,...
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Jun 20, 2013
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economy. >> which is now the critical question, with the rates going up, what is the impact on mortgage rates? and cramer tweeting watch the t etf that tracks the real estate, the ytr, and there is a shift that people are going to be looking at investing in the market, and the builders and the reits and the utilities and the tell co telecomes and other stocks fallen out of favor. >> and there's jim's tweet. he is not here, but here in spirit. my theory is that the fed is simply trying to make the bond market's slide more orderly so mortgage rates don't go to 5% in straight line. >> the fact of the increase in mortgage rates has not come out of the off increase in the 10-year, but because the mortgage investors need clarity from the fed and important to watch the spread between the 30-year mortgage and the 10-year treasury, because if it is not compressive, the fed has to worry about that as well. yesterday they said they are not going sell mortgages out of the port fo portfolios which is a cha
economy. >> which is now the critical question, with the rates going up, what is the impact on mortgage rates? and cramer tweeting watch the t etf that tracks the real estate, the ytr, and there is a shift that people are going to be looking at investing in the market, and the builders and the reits and the utilities and the tell co telecomes and other stocks fallen out of favor. >> and there's jim's tweet. he is not here, but here in spirit. my theory is that the fed is simply...
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Jun 15, 2013
06/13
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>> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead time. >> the gambling industry has been battered by the recession and taken the city of las vegas down with it. some casinos stand half built. unemployment is over 10%. and while steve wynn has had to slash employees' pay and lower room prices, he plows ahead, doing whatever it takes to get customers to his new hotel. >> this is encore. [dramatic orchestral music] ♪ >> and, yes, he really was sitting on top of the building. >> next time, we do this in the lobby. >> the encore is connected to his other las vegas hotel, the wynn, and he has a third in macau, china. inside, his hotels are fantasy lands for well-heeled adults. he brought gourmet restaurants and high-end shopping to the strip. his hotels may be extravagant, but his business strategy is conservativ
>> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right now that if i had any idea this-- i wouldn't, if i had a choice, but this project was started four years ago. these things have a huge lead time. >> the gambling industry has been battered by the recession and taken the city of las vegas down with it. some casinos stand half built. unemployment is over 10%. and while steve...
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Jun 18, 2013
06/13
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economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural issues if we find ourselves back in the state in the recovery we currently have is going to be questioned. >> i think that's right nevada the confidence fa we node to keep if economy going seems to be correlated to the market's perception of what the fed is doing. and maybe we're surprised by that a little bit because the fundamentals shouldn't be so checked. but the pact is, they are. the psychology, the canesian animal spirits, if you will, seem to be realed to the market's reactions to where the fed is on the issue. and i think what you
economy would not only be a stall on the u.s. economy as we see the policies set be i the fed are being imitated this is what draggy has been doing in europe and in japan. i many own sense is that for a short period of time, probably another two or three quarters. it's important for america to continue to provide the leadership that will allow a global recovery to occur. then we do have to get on with the business of solving structural issues. i don't think it will be easier to solve structural...
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Jun 18, 2013
06/13
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we don't have the data strengthening the economy support we want or for the fed to walk away. finally, the fed said they would be committed and stick with the stimulus until we see the unemployment rate go under 6.5%. we're nowhere near. we actually upticked last month. that's why we think it's the lower end of the range, a buying opportunity in gold. >> so you think the fed is not going to back away, buy gold her. anthony, what kind of move to you think gold is going to make tomorrow in your view? >> jackie, i think it's completely wrong to buy gold her. this show is kaulgd futures and he's still looking at the past for decisions he's making on gold. the fed has been easing for a year and a half and gold has done nothing but drop. it's all about inflation, inflation according to that cpi number, jeff is right, doesn't exist at this point. it's even detached from the dollar which has shown weakness and gold is still lower right now. so i don't think it really matters what the fed does. if they continue their qe, it won't matter to gold. it's still going lower. if they decide t
we don't have the data strengthening the economy support we want or for the fed to walk away. finally, the fed said they would be committed and stick with the stimulus until we see the unemployment rate go under 6.5%. we're nowhere near. we actually upticked last month. that's why we think it's the lower end of the range, a buying opportunity in gold. >> so you think the fed is not going to back away, buy gold her. anthony, what kind of move to you think gold is going to make tomorrow in...
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Jun 21, 2013
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is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know, you made a comment earlier about are we ahead of ourselves from a fundamental perspective? i think the market is very forward looking, right? so the point there is i think the market is looking ahead six months and saying, we're going to be in a very different place -- >> hang on, hang on. i understand that point, but i don't think that's where we are because we were artificially inflated by the fed, and the assumption was that the fundamentals would come up to support us, and, therefore, it's not a normal situation. what we're sayi
is the economy strong enough? is the economy around the world strong enough to support the market at this level if they're going to pull support away. >> i think what he's trying to say is the economy he hopes will be strong enough. they're not pulling the rug out right now. they've made it clear they're extremely data dependent. i think they're expecting the economy to be strong enough, and i think they're expecting that when it is, they will start to pull back. to be clear, you know,...
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Jun 16, 2013
06/13
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>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds.s. so it's a very strong environment. i think, it's a strong reminder that equities are an important part of the total return that investors are seeking. >> and i think one of the good things that he said about unemployment ratnte and it not coming down quickly. you know, consumers doing well, businesses are still cautious and we are in a global economy and a lot of u.s. companies today, depend on sales overseas. the u.s. is doing better, but overseas europe is trying exit recession and china is growthwt rate slowing, brazil is facing pains. and even if the consumer is doing better, overseasea is sti
>> so 2% economy. do you think the market is ahead of itself knowing we are in a 2% grower? >> personally, i don't think so, the phrase we have been using is tina, there's no alternative. and i agree with rebecca, that you are not in a situation where you are going to be getting high real rates from bonds. i think the back up in bond yields was a reminder that you can lose money, particularly in bond funds.s. so it's a very strong environment. i think, it's a strong reminder that...
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Jun 23, 2013
06/13
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the economy is doing a little better. does that change the dynamic of what we are looking for? that message that we have to do everything who need speed will. -- we can to help people. that message may be a little bit less there. there are a whole of changes that take place. >> polls show both parties could suffer some political fallout if they do not solve that. is that true? >> does the rate go up when people suck it up and pay more? >> are you not going back to school because you have higher interest rates? you will finish your degree one way or another. it will cost you more. >> it is about what? a thousand dollars over the year? >> $1,000 per year. you are basically taking out four college loans. $1,000 per loan per year. it is more over the lifetime. more broadly, everyone is playing politics with this. not a day goes by that i do not sit on a conference call wondering if there is so much passion about having a fix for this, why is nothing getting done? it is an easy attack ad. both sides are doing it. speaker boehner lets him ring on the president. -- loves hammering the
the economy is doing a little better. does that change the dynamic of what we are looking for? that message that we have to do everything who need speed will. -- we can to help people. that message may be a little bit less there. there are a whole of changes that take place. >> polls show both parties could suffer some political fallout if they do not solve that. is that true? >> does the rate go up when people suck it up and pay more? >> are you not going back to school...
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Jun 23, 2013
06/13
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you said there may be changes down the way as the economy strengthens and we get out of what has been years. at the same time, if you adopt the house republican now you get the low rates now. does that offer an opportunity to renegotiate this as sure -- issue going forward? is it better to do nothing and let them jump to 6.8%? >> the better thing is to find competing messengers and come up with some stability. it is a good question. it focuses on the difference between the white house plan and the house republican plan in terms of what is a variable rate. the republican plan is a variable rate that reset from one year to the next for the same loan of the student takes out in year one. president obama's variable rate is different. when you take out that loan in , that is-- in year one the loan for the full 10 year term. it does not reset in the sophomore or junior year of college. graduates atson the end of the fourth year, the rate in year one is the rate you will pay after you graduate. the problem with the president's hen i would observe is that has no caps at all in terms of how hi
you said there may be changes down the way as the economy strengthens and we get out of what has been years. at the same time, if you adopt the house republican now you get the low rates now. does that offer an opportunity to renegotiate this as sure -- issue going forward? is it better to do nothing and let them jump to 6.8%? >> the better thing is to find competing messengers and come up with some stability. it is a good question. it focuses on the difference between the white house...
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find out what's really happening to the global economy with mike's cancer for a no holds barred look at the global financial headlines tune in to kaiser report on our. mission free accreditation free transport judges free. range mentioned free risk free just to tide free. download free broadcast quality video for your media projects and a free media dog r.t. dot com you. welcome to our conversations of great minds with dr douglas rushkoff dr rushkoff is an author teacher documentarian who studies the way people cultures and institutions create share and influence each other's values world renowned media theorist and counter-culture figure is the originator of ideas such as viral media social currency and screen agers he's going to the forefront of digital society from its beginning correctly predicting the rise of the net the dotcom boom and bust as well as the current financial crisis and is a familiar voice on n.p.r. a face on p.b.s. and writer and publications from discover magazine to the new york times to rushkoff newest book is titled present shock when everything happens now a
find out what's really happening to the global economy with mike's cancer for a no holds barred look at the global financial headlines tune in to kaiser report on our. mission free accreditation free transport judges free. range mentioned free risk free just to tide free. download free broadcast quality video for your media projects and a free media dog r.t. dot com you. welcome to our conversations of great minds with dr douglas rushkoff dr rushkoff is an author teacher documentarian who...
SFGTV2: San Francisco Government Television
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Jun 16, 2013
06/13
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table cash economy which proliferates in childcare in san francisco by bringing in more qualified services, as an attractive alternative, we can generate more revenue for the city, improve the quality of care for all the citizens in san francisco and support the families live here. thank you again for the opportunity. apl (applause)>> our next two presentations will be provided by some community leaders, julie christiansen, the founder of friends of joe dimaggio. thanks julie. >> thank you supervisor chiu, mr. mayor. nice to have you all here. this is a great opportunity to say happy things to all the department heads that i am looking at who have been our partners in great project and today will concentrate on projects that we don't have a apologize for that. i beg your indulgence. everybody has a wish list and today i get to talk about mine. four things. happy days are here again is the mayor said; companies are moving in, companies hiring, tourism is back up what we are not sustaining our open space rate. mission center, patrol hill, all are experiencing vast increases in jobs; addition
table cash economy which proliferates in childcare in san francisco by bringing in more qualified services, as an attractive alternative, we can generate more revenue for the city, improve the quality of care for all the citizens in san francisco and support the families live here. thank you again for the opportunity. apl (applause)>> our next two presentations will be provided by some community leaders, julie christiansen, the founder of friends of joe dimaggio. thanks julie. >>...
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Jun 22, 2013
06/13
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there are 155 food pantries in san francisco feeding the hungry and a growing illegal economy. kpix 5's ryan takeo takes a look at the underground food market. >> reporter: just steps away from the civic center in the shadows of the bustling heart of the city farmer's market is a different type of market altogether. >> come on, man. come on, man. >> reporter: we found a booming economy in underground food markets where you cannot beat the deals. >> how much? >> one dollar. >> a dollar for three? >> reporter: the sellers are feisty. [ yelling ] >> reporter: sometimes the struggle of the tenderloin neighborhood shows up too. >> give me all my money! >> reporter: but this story is more about where these sellers get at least some of their inventory. some of it comes from the san francisco food bank warehouse. >> we're aware that there are a few people who are selling food some of it we know comes from the food bank. >> reporter: how do you know that? >> we can see from the type of food that it is. some of it actually has our name on it. the food that we repackage has our name on it
there are 155 food pantries in san francisco feeding the hungry and a growing illegal economy. kpix 5's ryan takeo takes a look at the underground food market. >> reporter: just steps away from the civic center in the shadows of the bustling heart of the city farmer's market is a different type of market altogether. >> come on, man. come on, man. >> reporter: we found a booming economy in underground food markets where you cannot beat the deals. >> how much? >> one...
SFGTV2: San Francisco Government Television
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Jun 15, 2013
06/13
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and you've heard that the economy looks a lot better; there's a lot of other companies that want to move here. unemployment rate has dropped to 5.4%, we are on a good roll in terms of employing more people. resources are up. we are not completely over the deficit that we're facing with the next two years so we have to do some decision-making. the other thing that the board of supervisors is doing with as is, the reason why we hold these meetings out here is because we want to do as much preventing of arguing among ourselves about what the priorities are in the city. we do still a little bit of that. it is nice to have the import of the public to guide us so that we have less arguments and more about building consensus of what's important in the city. the other thing that we are doing together is already evidenced, is that we're making sure that job creation reaches everybody in the city so this summer we are going to create together with the departments in the private sector, 6000 paying jobs for our youth. about thatthis is how we invest in our kids and our families, making sure that ou
and you've heard that the economy looks a lot better; there's a lot of other companies that want to move here. unemployment rate has dropped to 5.4%, we are on a good roll in terms of employing more people. resources are up. we are not completely over the deficit that we're facing with the next two years so we have to do some decision-making. the other thing that the board of supervisors is doing with as is, the reason why we hold these meetings out here is because we want to do as much...
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Jun 17, 2013
06/13
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some of them took it up on it and their economies began to improve. then they pivoted to deficit reduction way too early and by the bit off this austerity idea to the point where you can just watch their unemployment rate reverse course and start to go up. now much of the eurozone is in recession with unemployment rates well in excess of 10%. >> look what they've got in terms of youth unemployment. youth unemployment in spain, 57%. greece 52%. that's a lost generation, isn't it? and isn't that what the president of the united states has actually been working to prevent from happening, losing a generation of young people? >> well, it's true. and in fact, in spain, the overall unemployment rate is around 25%. youth over 50%. now, back in the u.s. great depression, great depression, we bemoaned an up employment rate that was that high. we're not talking recession anymore. we're talking depression for these countries. and again, if you happen to be so unfortunate as to start your economic life in an economy like that, even if things improve as they will d
some of them took it up on it and their economies began to improve. then they pivoted to deficit reduction way too early and by the bit off this austerity idea to the point where you can just watch their unemployment rate reverse course and start to go up. now much of the eurozone is in recession with unemployment rates well in excess of 10%. >> look what they've got in terms of youth unemployment. youth unemployment in spain, 57%. greece 52%. that's a lost generation, isn't it? and isn't...
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Jun 20, 2013
06/13
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economy is improving. he took questions from reporters for about an hour. >> concluded a two-day meeting earlier today. based on its review of recent economic and financial developments, the committee seized the economy -- sees the economy continuing to grow at a moderate pace, notwithstanding the strong headwinds created by current fiscal policies. the labor market has continued to improve with gains in private payroll employment averaging about 200,000 jobs per month over the past six months. job gains, along with the strengthening housing market, have contributed to increases in consumer confidence and supported household spending. however, at 7.6%, the unemployment rate remains elevated, as do rates of underemployment and long-term unemployment. overall, the committee believes the downside risks to the outlook for the economy and labor market have diminished since the fall, but we will continue to evaluate economic conditions and risks as they evolve. inflation has been running below the committee's lo
economy is improving. he took questions from reporters for about an hour. >> concluded a two-day meeting earlier today. based on its review of recent economic and financial developments, the committee seized the economy -- sees the economy continuing to grow at a moderate pace, notwithstanding the strong headwinds created by current fiscal policies. the labor market has continued to improve with gains in private payroll employment averaging about 200,000 jobs per month over the past six...
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Jun 19, 2013
06/13
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KRCB
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so that we're becoming more and more a retail economy, a consumer economy that didn't make anything. >> rose: that the nature of the company today? >> oh, absolutely. i think what wal-mart has done by demanding the lowest prices from its suppliers has driven a lot of manufacturing overseas and benefited that places like dean price's county, rockingham county, north carolina, have gotten poorer. so people have to go to wal-mart to shop, they can't afford not to. and it's cleared out other businesses for a hundred miles. >> rose: but the flip side is some people make -- my father had one of those small businesses and so i know they that side of the story very, very well. on the other hand, you talk to these wal-mart people, they say that the people -- wal-mart is the poor person's best friend. so you agree sam walton should be -- >> he's a little bit -- he's an admirable american success story in that he came out of nowhere and built an empire and it's hard not to feel a respect for that. at the same time the empire he built i think has been a destructive force in american life in our
so that we're becoming more and more a retail economy, a consumer economy that didn't make anything. >> rose: that the nature of the company today? >> oh, absolutely. i think what wal-mart has done by demanding the lowest prices from its suppliers has driven a lot of manufacturing overseas and benefited that places like dean price's county, rockingham county, north carolina, have gotten poorer. so people have to go to wal-mart to shop, they can't afford not to. and it's cleared out...
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Jun 22, 2013
06/13
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." ♪ >>> small businesses are revitalizing the economy and american express open is here to help. that's why we are proud to present "your business" on msnbc.
." ♪ >>> small businesses are revitalizing the economy and american express open is here to help. that's why we are proud to present "your business" on msnbc.
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Jun 20, 2013
06/13
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because they have a much more optimistic view of the economy. here's a chart to give you a flavor for what the economists are looking at, which is projected monthly job growth. now, we know the economy is still not doing everything we want, but over the past year private economists have gone from predicting something like 140,000 jobs a month over the coming year and now predicting something like 187,000 jobs a month. >> that would be great. it's still below where we want to be. but the new normal is 130 to 140. if the new normal changes to 180, maybe week get over that. the 200,000 mark is what economists say time and time again if you want to keep things going in the right direction. you have to create at least 200,000 jobs. >> it feels like that number keeps going up. it used to keep trading water but now it moved up to 200,000. >> this is not great. we'll have high unemployment for another six to seven years, but the point is the outlook is getting better with the fed making projections yesterday. so bernanke is talking about reducing the bo
because they have a much more optimistic view of the economy. here's a chart to give you a flavor for what the economists are looking at, which is projected monthly job growth. now, we know the economy is still not doing everything we want, but over the past year private economists have gone from predicting something like 140,000 jobs a month over the coming year and now predicting something like 187,000 jobs a month. >> that would be great. it's still below where we want to be. but the...
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Jun 21, 2013
06/13
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KPIX
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ben bernanke says he expects unemployment to fall and the economy to grow through the next year. so while the markets might experience short-term volatility, experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money? >> exactly. >> reporter: the dow is still up about 12% since the beginning of the year, so many investors are looking at the developoff as an opportunity to buy stocks at -- are looking at this sell-off as an opportunity to buy stocks at a discount. ashley morrison kpix 5. >>> facebook has revealed a new feature for instagram, its photo sharing app. instagram video allows users to share videos up to 15 seconds in length. it competes with twitter's vine app which also allows users to share video clips. and yahoo now officially owns the online blogging forum tumblr. the internet giant completed its $1.1 billion acquisition of the company. they hope tumblr will bring in more advertisi
ben bernanke says he expects unemployment to fall and the economy to grow through the next year. so while the markets might experience short-term volatility, experts say it's a by-product of a brighter economic future. >> we love this. this is what we live for when you have this kind of volatility. this is a dream for us. that's why you're in the business. >> reporter: this is when you make your money? >> exactly. >> reporter: the dow is still up about 12% since the...
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Jun 20, 2013
06/13
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immigrants grow the economy, they increase innovation. also people tend to imgrace at a time when they're at working age so you get a big fiscal benefit because they work for decades before they start collecting old age benefits. all we're left to fight about is do we want america to be a country that's more diverse, less white, and has more people who are foreign born? >> so it's not an economic argument you believe. it's actually a cultural one. >> yeah, and i think also you have a lot of fear among republicans. they think probably accurately that imgrarcht populations are going to be less receptive to the republican party than native-born americans. that's already true in the electorate today. and so i think they have cross pressures. they're being told by elite forces in the republican party you have to do this because it's essential to rebuilding the i am imagine of the party. but they're getting pressure from the conservative base that doesn't want this and they're saying these are people that are not voting for me. why am i voting
immigrants grow the economy, they increase innovation. also people tend to imgrace at a time when they're at working age so you get a big fiscal benefit because they work for decades before they start collecting old age benefits. all we're left to fight about is do we want america to be a country that's more diverse, less white, and has more people who are foreign born? >> so it's not an economic argument you believe. it's actually a cultural one. >> yeah, and i think also you have...
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Jun 19, 2013
06/13
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it's good for the economy. once again, we realize the breadth of support for this legislation goes far beyond thrix or demographics or elections. it goes to our responsibility to the economy and to our country. we have an obligation to pass this legislation if we want to fix our immigration system and rebuild our economy. to those opponents of immigration reform who tell us that those people will come here and use services, demand more and bankrupt the system, i would point them to this graphic. the sizable deficit reduction from immigration reform in the first ten years is actually dwarfed by the amount of immigrants -- that immigrants, i should say, will continue to contribute in reducing the national deficit in the second ten years. this clearly shows immigration reform is good for america now and in the long term. people have long realized and the c.b.o. numbers show us that this legislation is without a doubt the right thing to do. it benefits all of us as a nation. these are people who have come here to w
it's good for the economy. once again, we realize the breadth of support for this legislation goes far beyond thrix or demographics or elections. it goes to our responsibility to the economy and to our country. we have an obligation to pass this legislation if we want to fix our immigration system and rebuild our economy. to those opponents of immigration reform who tell us that those people will come here and use services, demand more and bankrupt the system, i would point them to this...
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Jun 20, 2013
06/13
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economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to their purchases of large scale as purchase of treasury bonds and mortgage backed securities. >> diane, what do you make of these trends, gold prices going down and interest rates rising. what do you make of that? >> i think they go in contrast to what people would think. we do have inflation decelerating. the gold buy had been one where people were trying to protect themselves somehow by buying gold like my grandmother did when she sewed it into her clothes coming to ellis island. this is an idea that inf
economy. it's like when the fed used to have an interest rate where they could go one percent and cut another half percent. this is a move like one percent to half percent cuts. the calibration of policy that is making it difficult for people to understand, i think it's like watching the sausage being made. too much information and too much uncertain stay. that said, this is a fed that's also given us an insurance policy. if the economy were to falter, they would increase again if they had to...
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Jun 23, 2013
06/13
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also a pivotal week in the economy. we will look at ben bernanke's announcement and the market reaction with harvard historian neil ferguson squlmpt. >>> everyone is talking about the 3-d printing but that's yesterday's news. i'll show you printing atoms and molecules. that's the next big thing. first, here's my take. in the debate over u.s. intervention in syria, there's a striking mismatch between ends and means. proponents of intervention want to defeat a ruthless and powerful regime, rescue a country from civil war and usher in a new democratic political order. but these people say at the same time that they want to achieve all this with the most limited methods. the worst thing the united states could do right now is to put boots on the ground in syria, says senator john mccain. we're often told that the goal of this intervention is to stop the killing. but sending more arms into the mix will actually increase the violence. that's fine, say the interventionists, because the real goal is to oust assad. but as we lea
also a pivotal week in the economy. we will look at ben bernanke's announcement and the market reaction with harvard historian neil ferguson squlmpt. >>> everyone is talking about the 3-d printing but that's yesterday's news. i'll show you printing atoms and molecules. that's the next big thing. first, here's my take. in the debate over u.s. intervention in syria, there's a striking mismatch between ends and means. proponents of intervention want to defeat a ruthless and powerful...
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Jun 22, 2013
06/13
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tough economy, we're talking about jobs in the state here. you're talking about somebody who molloy has made clear he might have his eye on the national stage a little bit. he has to get by in 2014. how does this issue affect him with perry coming in and maybe losing gun jobs a little bit. >> it's a choice he's going to have to make. between jobs and votes, really. when it comes down to it. i think he wins on the vote side. the national attention on this issue and at least in the northeast, perry will be vilified. i would love to see him meet up with chris christie. >> nobody is going to say that this year. >> it's a delicate balance that he's going to have to walk. i'm sure the nra is going to be going after him should some of these manufacturers leave. so, it's clearly an important calculation for perry to strengthen his national credential. ultimately i think molloy will be fine because he'll be fine on this issue and he'll bet support from around the country. >> i wonder how the et voers in connecticut would feel about it because the econ
tough economy, we're talking about jobs in the state here. you're talking about somebody who molloy has made clear he might have his eye on the national stage a little bit. he has to get by in 2014. how does this issue affect him with perry coming in and maybe losing gun jobs a little bit. >> it's a choice he's going to have to make. between jobs and votes, really. when it comes down to it. i think he wins on the vote side. the national attention on this issue and at least in the...
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Jun 21, 2013
06/13
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that really are the game changers in our economy. >> there's talk about a potential scott smith 2014 win for governor. national audience, if you want to make an announcement, we'll give you the platform. >> i will make a firm announcement that i'll make an announcement sometime in the future. i'll do the best i can as president of the united states conference of mayors. >> we got you to announce that you will be announcing something at some point. we'll call that a win today. >> thank you, peter, and come back for spring training. >> appreciate it. >>> opening bell all set to ring on wall street. we got to talk about some other things and the markets are one of them. the markets looking to recover after two days of heavy sell-off. the dow lost more than 400 points in 4 hours following bernanke's comments on quantitative easing. it should be relatively quiet for economic news in the u.s. no major data is due for release today. at any moment, we could get a key ruling in the trial of george zimmerman. the judge is expected to rule whether the jury can hear expert's testimony about whos
that really are the game changers in our economy. >> there's talk about a potential scott smith 2014 win for governor. national audience, if you want to make an announcement, we'll give you the platform. >> i will make a firm announcement that i'll make an announcement sometime in the future. i'll do the best i can as president of the united states conference of mayors. >> we got you to announce that you will be announcing something at some point. we'll call that a win today....
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Jun 21, 2013
06/13
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where's the underlying growth in this economy? >> well, my question is where is the underlying growth in the world? is because one of the things that was moving the markets yesterday are these signs that the chinese economy is slowing. well, that's what we could always count on was that china was going to grow at 10% or 9% or 8% a year at minimum. and if there is underlying weakness in what is now the world's second largest economy and some day will be the largest, that ain't good for all the rest of us. europe is worse off than we are. so one understands why investors are nervous, and bernanke is saying, well, i think we're going to start siphoning off some of this froth. you know, kind of threw everybody off the cliff. >> some of the underlying growth over the last few years, you look at the enormous geographic pivot that's taken place in the united states that's allowed for greater energy exploration and production. whether you're a fan of fossil fuel or not, we can't deny this has created jobs. it's added to gdp, and frankly,
where's the underlying growth in this economy? >> well, my question is where is the underlying growth in the world? is because one of the things that was moving the markets yesterday are these signs that the chinese economy is slowing. well, that's what we could always count on was that china was going to grow at 10% or 9% or 8% a year at minimum. and if there is underlying weakness in what is now the world's second largest economy and some day will be the largest, that ain't good for all...
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Jun 20, 2013
06/13
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, and what he said yesterday, perhaps what he didn't say, is that when the economy improves they'll be stepping away from that program. what we're seeing today is when you go off drugs, withdrawal is hard and these are the first stages of withdrawal. but they're not off the drugs completely and they won't be for a while. the other fear, tamron, is where is ben bernanke going and who will be his successor? everyone is expecting he will be stepping down in january. there's been so much money involved. how will it look when the government starts to unwind from its position in the u.s. markets and who will be the person that will be doing that? there are a lot of questions right now. >> it looks like the dow is on its way to having its worst day since april 15th. thank you, kayla. >>> dramatic day in boston where helicopters have been following nfl star aaron hernandez' every move. he's been questioned in connection with a homicide. police have not made him a suspect, we want to stress that, and no arrests have been made right now. the new england patriots' tight end spent part of the day
, and what he said yesterday, perhaps what he didn't say, is that when the economy improves they'll be stepping away from that program. what we're seeing today is when you go off drugs, withdrawal is hard and these are the first stages of withdrawal. but they're not off the drugs completely and they won't be for a while. the other fear, tamron, is where is ben bernanke going and who will be his successor? everyone is expecting he will be stepping down in january. there's been so much money...
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Jun 16, 2013
06/13
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KPIX
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tonight at 10:00 and 11:00, find out how bay area politicians are focused on keeping the american economy competitive while making sure our job force stays strong. that's the news at 6:30. we'll see you at 11:00. the latest news and weather are always on our website, kpix.com. captions by: caption colorado comments@captioncolorado.com ,, ,,,,,,,,,, [ female announcer ] life is full of compromises. but when it comes to what your family really loves, you shouldn't have to sacrifice. and that goes double for ice cream. now you don't have to give up. you can give in with dreyer's slow churned light ice cream. we churn it slowly for all the rich and creamy taste with just half the fat. ♪ dreyer's slow churned light ice cream. ♪ nestlé -- good food, good life. >> an all new eye on the bay starts now in hd. >> this edition of eye on the bay is sponsored by oakland zoo. >> new york got to get away guid
tonight at 10:00 and 11:00, find out how bay area politicians are focused on keeping the american economy competitive while making sure our job force stays strong. that's the news at 6:30. we'll see you at 11:00. the latest news and weather are always on our website, kpix.com. captions by: caption colorado comments@captioncolorado.com ,, ,,,,,,,,,, [ female announcer ] life is full of compromises. but when it comes to what your family really loves, you shouldn't have to sacrifice. and that goes...
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Jun 20, 2013
06/13
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about when the central bank will end its economic stimulus program, reacting to news about china's economy. reports on unemployment, manufacturing and housing here in the u.s. the drou dropping to 15,is 12, the nasdaq to 3,833. >>> mow zil la is going ahead with plans to offer a do not track option. that would block the most common forms of internet tracking, allowing people to limit who watching their online movements. the decision comes despite big resistance from advertisers who claim this tracking is essential to delivering well targeted lucrative adds that pay for many web services. microsoft is reversing course on its xbox 1 game console. users can left-hand and sell used games. these had been criticize bid the hard core gamers since microsoft unveiled the xbox one in may. the device goes on sale this fall for $499. we'll definitely see how it does. >> kayla tausche, thank you very much. >> bowing. >> you taught us so much. >> i used to teach etiquette to little kids. >> you got to work on me. i got a ways to go. >> christina loren is here to tell us and sprinkle etiquette, sunshine,
about when the central bank will end its economic stimulus program, reacting to news about china's economy. reports on unemployment, manufacturing and housing here in the u.s. the drou dropping to 15,is 12, the nasdaq to 3,833. >>> mow zil la is going ahead with plans to offer a do not track option. that would block the most common forms of internet tracking, allowing people to limit who watching their online movements. the decision comes despite big resistance from advertisers who...
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Jun 21, 2013
06/13
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plus, how the dow's plunge could be a good sign for the economy. >>> new overnight. word of a near miss in the skies above new york city. how two jets almost collided in midair. >> the incredible story of a deaf boy hearing for the first time. inside a medical breakthrough. >>> and the miami heat go back to back, repeating as nba champs. >>> but we begin this morning with a look at today's eye opener. your world in 90 seconds. >> people in hedging t
plus, how the dow's plunge could be a good sign for the economy. >>> new overnight. word of a near miss in the skies above new york city. how two jets almost collided in midair. >> the incredible story of a deaf boy hearing for the first time. inside a medical breakthrough. >>> and the miami heat go back to back, repeating as nba champs. >>> but we begin this morning with a look at today's eye opener. your world in 90 seconds. >> people in hedging t
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Jun 23, 2013
06/13
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that is the new norm in our economy. the caller is exactly right, you give legal status to 11 million people and you bring in all of these low skilled immigrants in the future, you are going to drive down the wages of the least skilled american workers. many of them are simply leaving to work force entirely, being pushed out by immigration. this bill will make that even worse. increases in income for everybody. in the united states right now, immigrants do not have job opportunities. if this is allowing people to come here and allowing americans to hire the people they want to hire going forward. it is remarkable that we have a supposedly free-market think- tank over your arguing that the government's job is to control the flow of production that american employers want to hire and the american economy demands simply because of some sort of central planning and nostalgic. guest: the government's job is to determine who the citizens of united states will be guarded item that there is anyone who wants to grant citizenship
that is the new norm in our economy. the caller is exactly right, you give legal status to 11 million people and you bring in all of these low skilled immigrants in the future, you are going to drive down the wages of the least skilled american workers. many of them are simply leaving to work force entirely, being pushed out by immigration. this bill will make that even worse. increases in income for everybody. in the united states right now, immigrants do not have job opportunities. if this is...
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Jun 19, 2013
06/13
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the chinese economy opened up a world of opportunities. a world of brand new shoppers. >> farmers are leaving these
the chinese economy opened up a world of opportunities. a world of brand new shoppers. >> farmers are leaving these
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Jun 20, 2013
06/13
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. >> sreenivasan: the federal reserve painted a brighter picture of the economy today. the central bank estimated unemployment will fall a little faster than expected this year and next. chairman ben bernanke said that means the fed may start scaling back its stimulus efforts later this year. he promised it will come in measured steps, to reassure investors. >> we are in a more complex type of situation, but we are determined to be as clear as we can, and we hope that you are and your listeners and the markets will all be able to follow what we're saying. >> sreenivasan: bernanke's words did little to reassure wall street today. stocks fell sharply on fears that if the fed curtails its bond-buying program, interest rates will rise and growth will slow. the dow jones industrial average lost 206 points to close at 15,112. the nasdaq fell nearly 39 points to close at 3,443. the internal revenue service is taking new fire-- this time over plans to pay bonuses to employees. republican senator chuck grassley of iowa said it comes to $70 million, despite a white house directiv
. >> sreenivasan: the federal reserve painted a brighter picture of the economy today. the central bank estimated unemployment will fall a little faster than expected this year and next. chairman ben bernanke said that means the fed may start scaling back its stimulus efforts later this year. he promised it will come in measured steps, to reassure investors. >> we are in a more complex type of situation, but we are determined to be as clear as we can, and we hope that you are and...